中国
外商直接投资
业务
交易成本
样品(材料)
政府(语言学)
国家所有制
面板数据
独创性
价值(数学)
国家(计算机科学)
新兴市场
经济
财务
宏观经济学
哲学
计量经济学
机器学习
化学
色谱法
语言学
法学
计算机科学
政治学
算法
创造力
作者
Haitang Yao,Mengqing Zhong,Wei Liu,Bin Chen
出处
期刊:Chinese Management Studies
[Emerald (MCB UP)]
日期:2022-03-30
卷期号:17 (2): 365-387
被引量:4
标识
DOI:10.1108/cms-08-2021-0326
摘要
Purpose This study aims to explore the effect of the home country institutional environment on firms’ outward foreign direct investment (OFDI) and how it is affected by institutional environment differences across home country subregions. Drawing on transaction cost theory, this paper examined the relationship between the Belt and Road Initiative (BRI) and Chinese firms’ OFDI, as well as the moderating roles of local government officials’ career horizons and state ownership. Design/methodology/approach A sample of 5,018 Chinese firm-year observations with foreign investment activities was used over 11 years to estimate a panel-feasible generalized least square regression model. Findings The results show that the BRI improves Chinese firms’ OFDI in countries along the BRI route. Furthermore, this positive relationship is weaker for firms where provincial officials have longer career horizons and is stronger for state-owned enterprises (SOEs) compared to non-SOEs. Originality/value The findings confirm the positive effect of home country institutional environment on firms’ OFDI. Furthermore, the multiple government perspective offers new insight into the effects of the home country’s institutional environment on OFDI.
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